The system of Nigeria’s Leader,Major General Muhammadu Buhari (retd.), has spent over N16.9tn on the importation of at the very least 132.24 billion liters of Premium Motor Spirit, popularly called petrol, despite the President’s campaign promises to halt PMS imports.
Figures got from the National Bureau of Statistics and the Nigerian National Petroleum Company Limited showed that Nigeria depended significantly on petroleum imports since the ongoing organization came ready.
This is on the grounds that the country’s treatment facilities have stayed lethargic for a really long time, though the government is currently revamping the Port Harcourt and Warri refineries. The rehabilitation of the facilities is to gulp about $2.9bn.
The proceeded with importation of petroleum and the humongous sum spent in sponsoring the product have been depicted as disturbing by industry administrators and examiners, who approached the President to liberate the downstream oil area completely.
Petrol import figures obtained by our correspondent showed that between June and December 2015, Nigeria imported 9.47 billion litres of petrol valued at N1.05tn.
A total of 18.81 billion litres of petrol was imported into Nigeria in 2016, with a worth of N2.01tn, according to figures from the NBS.
The total petrol imports into Nigeria through the Direct Sale Direct Purchase scheme of NNPC in 2017 was 12.97 billion litres, valued at about N1.58tn.
Under the DSDP scheme, selected overseas refiners, trading companies and indigenous companies are allocated crude supplies in exchange for the delivery of an equal value of petrol and other refined products to the NNPC.
In 2018, figures from NNPC showed that it imported 18.83 billion litres of petrol through the DSDP scheme. The worth of the commodity, based on NNPC data, was about N2.31tn.
Also, in 2019 the oil company imported 16.63 billion litres of petrol through its DSDP scheme. The value of the imported PMS in that year was about N2.4tn.
Still under the DSDP scheme, the NNPC imported 16.72 billion litres of PMS that was worth about N1.86tn in 2020.